''Here's some good news. Barack Obama announced he's bringing home troops from Iraq. That's right. Unfortunately, he couldn't get them direct flights home. They have a two-year layover in Afghanistan.''

ANyone who did not watch the Bill Black clip, it is a must watch. ... BUT HERE IS THE ONE YOU SHOULD REALLY WATCH if you have ~45mins sometime soon, watch the Black interview that BR posted a couple of weeks ago. I thought it was the best I've seen from him.

The debates on TBP seem to become politicized very rapidly, as though half the people on there work for RAHM EMANUEL and the others for SARAH PALIN. I just can't bring myself to get involved with that kind of nonsense. Kudos to Karen and a few others for actually talking facts and figures on the issue. Barry is in an odd place - does he really think the world is back to normal or is he pressured to NOT APPEAR WRONG?

Barry seems to want to defend LOWER END mortgagors who stopped paying, when the real scum-bags are the HIGHER END squatters, many of whom worked in the construction, mortgage and RE biz and started this problem in the first place (oh yes - we know you're out there!).

Did you notice how how quickly the guy ended the interview when Black talked about 60% of the mortgages at Citi being sold to Fannie and Freddie that DID NOT meet Citi guidelines, despite Citi's assertion the mortgages did? If true, that is FRAUD.

in regards to the retail sales debate, does anyone have a link to MC Spending Pulses' definition of its luxury cat.? I can't find one. ... personally, I'm curious about whether iDocuhe type devices fall within that realm

"does he really think the world is back to normal or is he pressured to NOT APPEAR WRONG?

Answer: Clearly, to me, he is pressured to NOT APPEAR WRONG...

Don't get me wrong... I like BR & I like (most), of the stuff he puts out (in terms of THREADS, not comments), on his blog...

But I'm not going to hesitate to call him "two faced" for talking all day & night about his escapades with the GREY POUPON crowd, and the fact that he's SOLD OUT his "Ratigan-esque" anger at the establishment for a quick buck...

its modis operandi of the MSM to cut people off when they start talking facts/truth ... it kinda juxtiposes too much with the cheerleading.. you know, got to keep the message straight...rah rah rah folks. nothing to see here. move all. buy stocks.

Karen ...Before I was a trader I was an Air traffic controller in London. When I was young and foolish I did a season as a wingwalker on top of an aerobatic aircraft on the airshow circuit. I consider myself a bit of a risk taker. Even if Brussels let all the airlines fly again I probably would not get on one in Europe right now.

"I cannot reveal sources for fear of reprisals in my line of work, but a 747 has definatly landed with engine damage in Ostend.... As said, the original post was the first rumblings, all info since had come from a very well placed source. Unsure on other details but it has impacted where I work, flying seems to have been halted again."

CV would suggest that all of those airline execs (who are 'complaining' about the lost revenues from grounded flights and begging for bailouts) all board their planes and do some flying around to see whether or not the governments have any legitimate reason to shut down traffic... :-)

there ya go, nic. maybe bruce's salt mine could give us all a survivor capital group discount after which we could recuperate at cv's farm. think though that you are probably among the most junior here with least need.

Just talked to a friend of mine who is re-doing our upstairs bathroom (we don't have a floor level bathroom), which serves as our main AND master bathroom. He was just here with the electricians and plumbers spec'ing out the project. He is trying to sell a tiny house nearby as a flip that he bought for $95K and fixed up (he actually did a nice job) to flip for $198K or so. He's saying he heard from his realtor that everything on home buying front here in the Twin Cities has gone "silent". Apparently there's a lull right now out there right now. I'm wondering if this is due the uncertainty surrounding the expiring home credit and how they merely pulled most of the demand forward in housing, leaving the potential for a tiny amount of buyers for the rest of the season and beyond? Something to ponder.

Not sure if David Singer reads this blog but a shout out to him. Not sure if you guys remember but he did a chart of IYR at least 6-7 months ago it seems looking for a $55 handle. That's pretty close and I, for one, did not think it would get there.

LB, I don't disagree with the notion of tax refunds kicking the spending number higher.. and exactly because of that, the number won't be maintained in the coming months.. and remember, i also noted the "expert" opinion in the nytimes piece, that tax refunds paid the attorney bankruptcy fees.

i got refunded, too, both fed and state.. altho, i just let it be applied to 2010 estimated.. i picked a good year to not make any money.. got 1000 credit for each son in university (the american recovery act?).. got to deduct thousands in medical expenses..

Saw a very attractive young realtor in the office yesterday. Long term patient. Husband is drug detail bubba. Last year at this time, she told me her primarily land real estate business was doing fine. Not so now. She is looking for another job. And again, so many of the realtors in this area were severely affected, but this gal was not, until the last 3-4 months. FWIW.

Risk-off day and the Treasury curve was shallower, as long bonds were well bid. Some of this may have been caused by a failed 30y bund auction in Germany (where else?), and continued weakness in the govies of southern european olive oil and wine producing nations.

Karen I read the Paulson interviews and thought the same. However just because he called the mortgage market right doesn't mean he is always right. He underperformed the beginning of the year ... just saying he he might be playing catchup now in equities like a lot of others.

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This blog should not be interpreted as investment advice of any kind.The authors are NOT representing themselves CTAs or CFAs or Investment/Trading Advisor of any kind.The authors may or may not trade in the markets discussed.The authors may hold positions opposite of what may by inferred by this blog.The information contained in this blog is taken from sources the authors believes to be reliable, but it is not guaranteed by the authors as to the accuracy or completeness thereof and is presented here for information purposes only. Commodity trading involves risk and is not for everyone.

Fictional Character Quote of the Day:

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- Andy Dufresne

"The Shawshank Redemption"

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This Blog's primary focus is on trading based upon technical analysis. It is run by "AmenRa" and "AndyT," quasi-anonymous traders who employ technical analysis to assess market conditions and trading opportunities. AmenRa utilizes 3LB techniques, Moving Averages and Fibonacci sequences. AndyT's analysis relies primarily on "Wave Theory" and Fibonacci sequences. The Comments Section is uncensored and open to the public. Please try and adhere to the "Blogger Policy."